Tag: Carbon Dioxide Market Analysis
Carbon Dioxide Market Trend, Business Opportunity and Future Demand by 2028 | MarkNtel Advisors
As per the United Nations, the world population is expected to reach about 8.5 billion by 2030. Thus, the progression in industrial activities on account of the growing global population is estimated to boost the growth of anthropogenic carbon dioxide emissions globally. Furthermore, the transition of the world’s reliance to clean energy sources is fueling the development of clean hydrogen & ammonia to replace conventional oil & gas products in excessive carbon-emitting industrial applications.
Carbon Dioxide Market Size, Business Opportunity and Future Demand by 2028 | MarkNtel Advisors
The Global Carbon Dioxide Market is estimated to grow at a CAGR of around 4.87% during the forecast period, i.e., 2023-28. The market growth imputes to the unceasing use of urea as a nitrogen fertilizer in the global agriculture industry, making the fertilizer industry one of the key end users of captive carbon dioxide throughout the historical period. As per IEA, global urea consumption accounted for nearly 122 Mt in 2020. Although, in recent years, the annual growth in agriculture production globally has been highly volatile, yet to fulfill the growing population’s food requirements in the coming years.
